US ports breathe sigh of relief as tariff exemption saves US$ 130m
NewsUS ports welcomed a crucial tariff exemption, saving them over US$ 130 million in unexpected costs on Chinese-made cranes.
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A giant of the US ports industry has passed away at the age of 92
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US ports welcomed a crucial tariff exemption, saving them over US$ 130 million in unexpected costs on Chinese-made cranes.
Ports in Washington State, Puerto Rico, San Diego, American Samoa, and the Northern Mariana Islands received US$48.4 million from the RAISE program.
The AAPA urged USTR to reverse a 25% tariff on Chinese-built STS cranes, citing increased infrastructure costs and potential project cutbacks due to no domestic alternatives.
The profitability of further decarbonization efforts at US ports is uncertain due to funding reliance on grants and loans, with alternative fuel adoption also hindered by uncertainties in fuel pathways.
Responding to report findings, AAPA has issued several recommendations for policymakers and relevant stakeholders to help create a level playing field and expedite decarbonization activities for ports.
As part of an Executive Order aimed at strengthening maritime cyber-security, the Biden Administration plans to invest over US$20B over the next five years in port infrastructure including funds for recreating the domestic port crane industry